Share Tank is also interesting because to even go on it, I believe you have to give 3% to the network no matter what the outcome of the show is, investment or no investment..
http://a.abc.com/media/primetime/sharktank/SharkTank3OpenCal...
"I further understand and acknowledge that I will be required to enter into further agreements with Finnmax LLC (“Producer”) relating to the business that I may present to the sharks for possible investment (my “Business”). Among other things, those agreements are currently anticipated to provide that as a condition of my participation on the Series, Producer, Sony Pictures Television Inc. and American Broadcasting Companies, Inc. (collectively the “Shark Tank Entities”) or their designee(s) will receive an irrevocable option (the “Option”), to do either of the following or neither, at their election and in their sole discretion:
1. Receive a 2% royalty of the operating profits of my Business or
2. Receive warrants that give the Shark Tank Entities or their designees a 5% equity interest in my Business. "
F*ck. That.
The opportunity to showcase your product and have it seen by millions of potential customers and investors on national television may actually be worth far more than their take.
Letting Sony/ABC pick, however, means any deal you do on the show has an automatic minimum of 5% equity tacked onto the investment price. And that's pretty significant considering I've seen plenty of deals for as low as 0-10%.